Eco Innovation Group Inc. (OTCMKTS:ECOX) was up 30% after the innovative firm creating green energy solutions announced that its California-based green construction affiliate ECOX Spruce Construction had received a formal General Contractor’s license (License no. 1091210) from the state of California.
Trading Data
On Tuesday, ECOX stock soared 30.43% to $0.0030 with more than 30.83 million shares, compared to volume of 12.96 million shares. The stock moved within a range of $0.0023 – 0.0037 after opening trade at $0.0024.
ECOX Spruce Construction Secures License to Launch Green Infrastructure Operations
Individuals and businesses that build or repair any structure, roadway, road, car parking, railway, excavations, or other construction in California should be registered to undertake work, as per the California Department of Consumer Affairs Contractors State License Board (CSLB) page. On Friday, May 6, 2022, the subsidiary received the license. ECOX Spruce Construction wants to concentrate on Green Infrastructure initiatives.
CEO of Eco Innovation Group Julia Otey Raudes said that acquiring a GC License is a major milestone for the Company’s newly formed ECOX Spruce Construction company, which will help extend the firm’s operations quickly, increasing the Green Infrastructure field. The ECOX business is built on a foundation of environmentally sustainable infrastructure. Therefore ECOX is worth watching in the coming weeks.
Key Quote
“Obtaining a GC License is the initial step for our ECOX Spruce Construction subsidiary formed early this year, and it will allow us to expand operations in the rapidly growing Green Infrastructure space,” stated Julia Otey-Raudes, CEO of Eco Innovation Group. “Our focus on ecologically sustainable infrastructure is core to the ECOX business. Large chains such as Starbucks, for example, are actively building out locations in California to be resource positive, using solar infrastructure, additional efficiencies, and reclaimed wood construction. A growing number of major organizations are moving in the same direction.”
Technical Data
ECOX stock is trading above the 20-Day and 50-Day Moving averages of $0.0023 and $0.0023 respectively. However, the stock is trading below the 200-Day moving average of $0.0127.
